Senior Financial Analyst at WESTERN… · KALAMAZOO

• Base Pay: 75,282.33 - 88,000.00 / Year
• Job Category: Staff
• Employee Type: Exempt >= .80 fte

Description

The Senior Financial Analyst serves as a strategic business partner, leveraging advanced financial analysis, AI-enabled technologies, ERP systems, automation, and data analytics to support executive decision-making, regulatory compliance, operational excellence and organizational growth. Performs a broad range of planning and analysis for WMed and affiliated companies. Monitors actual results of financial data against plans and budgets, determines trends, and explains financial results. Prepares detailed reports and presentations for review by all levels of management. Also, provides moderately complex financial analyses and reports as needed. Analyzes financial data by collecting, monitoring, and creating budgets and benchmarks, determines trends and helps to explain results. Gathers, organizes and documents relevant financial information. Provides oversight and coordination of operating reports and statutory filings for assigned functional areas. Leads and manages projects and continuous improvement efforts as defined by Administration, using standard approach (define, plan, implement, and monitor). Provides analytical expertise and comparative analysis to support complex decision-making by Administration. Leverages advanced data analytics, artificial intelligence (AI), process automation, and financial technologies to improve operational efficiency, support high-priority strategic initiatives, optimize financial systems, enhance reporting capabilities, and drive organizational performance.

Areas of focus may include:

Faculty compensation analysis

Assists Vice President, Finance and Business Development in implementing and overseeing elements of the Physician Compensation Program, to include quantitative and qualitative analysis of healthcare and financial data, annual compensation calculations, oversight of payroll approvals and financial accruals, benchmarking of faculty and physician comp and productivity statistics, budgeting physician data (labor budget, revenue budget, and statistical budget); assists with decision support for financial proformas; provides construction of databases and reports.

Revenue cycle analysis:

Independently reviews and monitors the overall financial status of clinical revenue from services provided in clinical settings. Reviews, designs, and implements processes for pricing and performs financial analyses to ensure that the clinical revenue cycle is effective. Performs close revenue monitoring following events that could impact the physician revenue cycle including the addition of outpatient clinics, new services or specialties. Presents findings, when appropriate, to providers and clinic leadership.

Management and monitoring of state sponsored programs:

Regular review for program participation eligibility and required attestations. Reconciliation of funds flow and calculation of fund distribution to participants.

This position requires a high level of integrity as it deals closely with confidential information.

DUTIES AND RESPONSIBILITIES:

• Provide timely, relevant and accurate reporting & analysis of the results of the organization’s performance against historical, budgeted, and strategic planning results to facilitate decision-making toward the achievement of the budget and strategic plan.
• Possesses an understanding of the business and user needs in order to provide budget insight and solutions.
• Analyze data to ensure proper accounting procedures have been followed. Investigate and report inconsistencies or improprieties.
• Analyze financial data by collecting, monitoring, identifying trends, and creating financial models to share and recommend actions to administration.
• Maintain controls to assure the integrity of financial data and compliance with GAAP which may include:
• Develop sound revenue cycle analysis and reporting; track metrics related to the patient engagement cycle. Responsible for updating and maintaining the Charge Master/Fee schedules and propose process improvements related to reimbursement methodologies
• Participate in compensation management by providing financial and analytical support for the compensation accounting processes. Respond to ad-hoc projects related to compensation program.
• Assist with new business processes.
• Prepares and distributes detailed reports and presentations for review by all levels of management.
• Prepare and analyze account reconciliations and analysis promptly for assigned functional areas.
• Assists with the development, implementation and ongoing integrity of the financial accounting system.
• Partner with IT and operational leaders to evaluate, implement, optimize, and maintain ERP platforms and related financial systems.
• Develop and maintain automated reporting, dashboarding, and data visualization solutions that improve access to financial and operational information,
• Utilize AI-enabled tools, predictive analytics, and advanced modeling techniques to enhance financials forecasting, decision support, and strategic planning.
• Support financial system optimization initiatives, including process redesign, system enhancements, data governance, integrations, testing and user adoption activities.
• Lead efforts to identify and implement process automation opportunities that improve efficiency, strengthen internal controls, reduce manual effort, and enhance reporting accuracy.
• Prepare, validate, and support regulatory, governmental and compliance-related financial reporting requirements for assigned programs and business units.
• Analyze enterprise operational and financial performance data to identify opportunities, risks, trends, and recommendations that support organizational goals and high-priority strategic initiatives.
• Monitor emerging financial technologies, analytic tools, and AI applications and recommend innovative solutions that improve organizational effectiveness and business performance.
• Prepare monthly balance sheet, income statement and changes in financial position/budget variance analysis for assigned functional areas.
• Recommend actions by analyzing and interpreting data and making comparative analyses.
• Maintain and develop various financial models for use by the organization during the planning processes, ensuring quality, accuracy and focused analytic review.
• Assist with the annual budgeting process.
• Prepare financial reports, charts, tables and other exhibits as requested
• Demonstrate appropriate understanding / working knowledge of accounting principles and internal controls, and apply them.
• Provide financial tracking support to departments.
• Identify non-value-added processes within the department and seeks solutions.
• Responsible for performing special projects to improve process efficiency and performance.
• Availability to work on weekends and evenings to complete time sensitive or seasonal projects.
• Availability for occasional overnight/out-of-town travel.
• Acquires knowledge for new technology and policy/procedure revisions.
• All other duties as assigned.

Requirements

To perform this job successfully, an individual must be able to perform each duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

EDUCATION AND/OR EXPERIENCE:

• Bachelor’s degree in Finance, Accounting, Healthcare Administration, Business, or a related field required.
• A minimum of three (3) years’ experience analyzing healthcare or equivalent data and a minimum of four (4) years’ experience analyzing quantitative or financial compensation data preferred.
• Requires strong database management, analytical, and reporting skills.
• Demonstrated experience with ERP systems, financial planning systems, data integration, financial system optimization, data mining systems, Excel, and Microsoft Word, Microsoft Power BI, and related office productivity tools.
• Experience using AI-enabled tools, advanced analytics, data visualization platforms, and financial technologies to support decision-making, forecasting and operational improvement preferred.
• Experience developing automated reporting solutions, workflow automation, and process improvements that enhance efficiency, data accuracy and internal controls preferred.
• Knowledge of healthcare regulatory reporting requirements, governmental reporting and compliance-related financial reporting processes preferred.
• Responsible for communications with providers and clinic leadership.
• Excellent written and verbal communication skills.
• Ability to manage multiple priorities and deliver timely results.

OTHER SKILLS AND ABILITIES:

• High level of communication skills to effectively interact with executive level management, physicians, faculty, and employees.
• Ability to plan, implement, and administer financial information and control systems.
• Knowledge of the principles, processes, and standards for integrated financial analysis and reporting. Strong financial analysis foundation including experience with data mining, creating budgets, and performing quantitative and qualitative analysis.
• Demonstrated ability to provide proactive analysis of and resolution to potential hurdles affecting the company’s reimbursement and accounts receivable.
• Proactive strategic planner incorporating strong financial insight with highly focused project management skills, analytical ability, good judgment, and strong operational focus.
• Demonstrates effective verbal and written communication that is clear, well-organized, and demonstrates an understanding of audience needs.
• Strong understanding of ERP systems, financial reporting platforms, data warehousing concepts and business intelligence tools.
• Ability to leverage AI, predictive analytics, and data visualization technologies to identify trends, improve forecasting accuracy, and provide actionable business insights.
• Experience evaluating, implementing and optimizing financial systems, reporting tools, and automated workflows.
• Demonstrated ability to improve business processes through automation, technology adoption, and continuous improvement methodologies.
• Knowledge of regulatory reporting requirements and ability to maintain compliance while supporting organizational reporting needs.
• Ability to translate complex financial and operational data into meaningful recommendations that support executive decision-making and business performance.
• Through genuine and positive communication, makes each customer feel informed, understood, and supported.
• An effective team player who contributes valuable ideas and feedback and can be counted on to meet commitments and deadlines.
• Ability to train, educate and lead finance staff.
• Ability to resolve complex problems.
• Ability to analyze and interpret data and make recommendations.
• Broad knowledge of organizational and departmental policy and procedure.
• Can work independently with a high level of analytical thinking and ability to concurrently manage multiple tasks.
• Ability to interpret, comprehend, and transmit complicated and detailed data accurately.
• Ability to accept and apply feedback.
• Regular and predictable attendance is expected.
• Demonstrates the ability to recognize priorities in organization of work flow.
• Able to perform duties independently, with a minimal need for direct supervision.

Summary

About Western Michigan University Homer Stryker M.D. School of Medicine (WMed)

We are committed to excellence and health equity through transformative medical education, high-quality, patient- and family-centered care, innovative research, and community partnerships within a welcoming, supportive, and engaging culture. Our vision is health equity for all in Southwest Michigan through innovation in the practice and study of medicine.

The medical school is a collaboration of Western Michigan University and Kalamazoo's two teaching health systems, Beacon and Bronson Healthcare. The medical school is a private nonprofit corporation supported by private gifts, clinical revenues, research activities, tuition, and endowment income. WMed is the recipient of a $100 million foundational gift and the Empowering Futures Gift, a philanthropic commitment of $300 million to support the mission of the medical school. WMed contributes to the economic vitality of Southwest Michigan through the services we provide, as well as the creation of 1,600 new jobs, with an estimated annual economic impact of $353 million in Kalamazoo and Calhoun counties.

WMed is fully accredited by the Liaison Committee on Medical Education and the Higher Learning Commission. The medical school offers a comprehensive, innovative four-year Doctor of Medicine degree program as well as a Master of Science degree program in Biomedical Sciences. We train physicians in 10 residencies and four fellowships accredited by the Accreditation Council for Graduate Medical Education. To support our educational mission, we have Joint Accreditation for interprofessional continuing education, which incorporates accreditation by the Accreditation Council for Continuing Medical Education.

WMed Health is the clinical practice of the medical school with more than 300 providers offering comprehensive primary care and specialty services in several locations throughout the Kalamazoo and Battle Creek areas. Faculty in the Department of Pathology serve as the Office of the Medical Examiner for counties throughout Michigan and northern Indiana.

The W.E. Upjohn M.D. Campus located in downtown Kalamazoo serves as the primary educational facility with student study and social spaces, team-based learning halls, faculty and administrative offices, a state-of-the-art Simulation Center accredited by the Society for Simulation in Healthcare, basic science research labs, as well as toxicology and forensic pathology labs.

WMed builds upon Kalamazoo’s century-long foundation of drug discovery and medical device development with a strategic investment in clinical, laboratory, community, and educational research. The Center for Immunobiology, Center for Clinical Research, Research Histology Lab, Innovation Center, and Human Research Protection Program contribute to the medical school’s advancement of knowledge through innovation and discovery.

Equal Employment Opportunity Employer in compliance with applicable State and Federal law.